Mets weigh partial sale to cover Madoff claims

By Associated Press
Posted Jan. 28 at 12:50 p.m.

The New York Mets are exploring a partial sale of the team as they face a lawsuit from a trustee trying to reclaim money for victims of the Bernard Madoff swindle.

Court-appointed trustee Irving Picard has said the Mets made nearly $48 million in Madoff’s scheme. He said the Mets originally invested about $523 million but eventually withdrew about $571 million from the accounts.

The Mets’ owners, Fred Wilpon and son Jeff, say they are looking into the sale to “address the air of uncertainty created by this lawsuit.” They also want to provide assurance that the team will continue to have the “necessary resources to fully compete and win.”

The Wilpons have retained former deputy baseball commissioner Steve Greenberg to assist them.

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